Samsung Electronics Quarterly Profits Fall 69% to 8-Year Low

Samsung Electronics today announced its earnings guidance for the fourth quarter of 2022.

  • Consolidated Sales: Approximately 70 trillion Korean won
  • Consolidated Operating Profit: Approximately 4.3 trillion Korean won
  • Sales: 69 ~ 71 trillion Korean won
  • Operating Profit: 4.2 ~ 4.4 trillion Korean won (~$3.4 billion)
(in trillion won)2022.3Q2021.4Q
Operating profit10.85>13.87
Source: Samsung

While it seems that all of Samsung’s businesses are experiencing the pains of a serious market downturn, it was the mobile and memory units that seem to have been worst hit. Demand for mobile phones has dropped in general and semiconductor sales in many categories are facing a downturn as customers adjust inventories. However, Samsung may also have been hit by iPhone manufacturing delays in China in the last quarter.